Food prices are expected to jump in 2013 following this summer’s drought.

The increase – expected to be 3 to 4 percent in 2013 on top of a projected 3.5 percent for this year – follows additional impacts from the drought, including an estimated $12 billion in economic losses, according to recent news reports.

Although some areas of the U.S. are getting rain, for many it’s too little, too late. About two-thirds of the U.S. is in drought and approximately 55 percent of the nation’s pastures and rangelands are in poor to very poor condition, according to the USDA.